Jump Financial LLC Sells 387,650 Shares of Plains All American Pipeline, L.P. $PAA

Key Points

• Jump Financial LLC reduced its stake in Plains All American Pipeline, L.P. by 79.3%, selling 387,650 shares and leaving it with 101,023 shares valued at $2,020,000.
• Plains All American Pipeline recently reported earnings of $0.36 per share, exceeding analysts' expectations of $0.33, despite a 16.6% year-over-year decline in revenue.
• The company announced a quarterly dividend of $0.38 per share, representing an annualized yield of 8.6% with a dividend payout ratio of 172.73%.

Jump Financial LLC reduced its stake in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 79.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,023 shares of the pipeline company's stock after selling 387,650 shares during the period. Jump Financial LLC's holdings in Plains All American Pipeline were worth $2,020,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. First Trust Advisors LP increased its holdings in Plains All American Pipeline by 16.5% during the 4th quarter. First Trust Advisors LP now owns 337,984 shares of the pipeline company's stock worth $5,773,000 after acquiring an additional 47,914 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Plains All American Pipeline by 75.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 19,553 shares of the pipeline company's stock worth $334,000 after purchasing an additional 8,414 shares during the period. Stifel Financial Corp increased its holdings in shares of Plains All American Pipeline by 19.5% in the fourth quarter. Stifel Financial Corp now owns 275,728 shares of the pipeline company's stock worth $4,709,000 after purchasing an additional 44,999 shares during the period. Beacon Pointe Advisors LLC increased its stake in Plains All American Pipeline by 14.2% in the 4th quarter. Beacon Pointe Advisors LLC now owns 74,084 shares of the pipeline company's stock worth $1,265,000 after acquiring an additional 9,235 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in Plains All American Pipeline by 12.8% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 31,486 shares of the pipeline company's stock worth $538,000 after acquiring an additional 3,573 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PAA has been the subject of a number of research analyst reports. Zacks Research upgraded Plains All American Pipeline to a "hold" rating in a research report on Monday, August 11th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Plains All American Pipeline in a report on Friday, May 9th. Wolfe Research reaffirmed a "peer perform" rating on shares of Plains All American Pipeline in a report on Friday, July 25th. Wells Fargo & Company cut Plains All American Pipeline from an "overweight" rating to an "equal weight" rating in a research note on Friday, May 9th. Finally, Wall Street Zen upgraded Plains All American Pipeline from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $20.42.

Plains All American Pipeline Trading Up 0.6%

PAA traded up $0.11 on Monday, hitting $18.00. 1,783,121 shares of the company were exchanged, compared to its average volume of 3,552,938. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. Plains All American Pipeline, L.P. has a 12 month low of $15.57 and a 12 month high of $21.00. The firm has a fifty day simple moving average of $18.18 and a two-hundred day simple moving average of $18.22. The stock has a market capitalization of $12.66 billion, a PE ratio of 24.66 and a beta of 0.73.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The pipeline company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.03. Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%.The firm's quarterly revenue was down 16.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.31 earnings per share. Sell-side analysts expect that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.52 dividend on an annualized basis and a yield of 8.4%. Plains All American Pipeline's dividend payout ratio is presently 172.73%.

Plains All American Pipeline Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.